Facebook Says CFO to Depart; Fuels IPO Speculation

Authored by Mark Hefflinger on March 31, 2009 - 10:46am.

Palo Alto, Calif. - Fueling speculation that it is gearing up to go public, Palo Alto-based Facebook said on Tuesday that CFO Gideon Yu is departing the social networking company. A person familiar with the matter told The Wall Street Journal that Facebook is looking for a CFO with "public company experience" for his replacement.

Yu had joined the company in mid-2007, following a stint as the CFO of YouTube.

The Journal reported that Facebook is expecting a revenue increase of at least 70% this year.

http://snipurl.com/eyiy0 (TechCrunch)